Contactless payments market categorizes the global Market by solution, by service, by payment mode, by vertical & by geography.
Pune, India -- (SBWIRE) -- 06/06/2016 -- According to a new market research report "Contactless Payment Market by Solution (Payment Terminal, Mobile Payment, Transaction & Data Management, Security and Fraud Management), Service (Professional, Managed), Payment Mode (Mobile Handsets, Smart Cards), Vertical - Global Forecast to 2021", published by MarketsandMarkets, The contactless payment market size is expected to grow from USD 6.70 Billion in 2016 to USD 17.56 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 21.2% during the forecast period.
Browse 69 market data tables with 48 figures spread through 146 pages and in-depth TOC on "Contactless Payment Market - Global Forecast to 2021"
Early buyers will receive 10% customization on this report.
The major drivers of this market include reduction in queuing and transaction time, increased convenience in making low value payments, ease of technology integration with existing cards, increased average transaction value, better customer insights, improved service delivery, and increased revenue opportunity.
Multi-channel payment and value-added services segment is expected to be the most promising segments during the forecast period
The contactless payment market has been segmented into solutions, services, payment mode, and verticals. Mobile handsets as payment mode and healthcare segments are projected to grow at a high growth rate; hence, will present good market opportunities during the forecast period. Multi-channel payment and value-added services hold a major share in the contactless payment services segment. The increasing integration of contactless payment technologies in different industries is considered as the primary driver influencing the growth of the contactless payment services market.
Mobile handsets payment mode is expected to be the most promising segments during the forecast period
Contactless smart cards command the major share in the contactless payment modes. However, mobile handsets are fast picking up as the most preferred mode of payment in the developing countries of the world as these are more secure and convenient for the customers to make their payments.
Presently, Europe contributes the maximum market share in the contactless payment market
Europe is expected to hold the largest market share and dominate the contactless payment market in 2016 due to technological advancement and increasing contactless smart card roll-outs in this region. From 2016 to 2021, APAC is estimated to grow at the highest rate during this forecast period and is becoming a new hotspot for contactless payment vendors as a revenue generating region. Furthermore, North America is expected to be another revenue generating market, with solution market as the leading revenue generating segment. This growth is driven by increasing adoption of cloud-based contactless technology solutions in the region.
The major vendors covered in the contactless payment market for the study include Gemalto N.V., Giesecke & Devrient GmbH, Ingenico Group, VeriFone Systems Inc., Wirecard AG, Heartland Payment Systems Inc., INSIDE Secure, OTI, Oberthur Technologies SA, and Proxama PLC.
Ask for Sample Pages @ http://www.marketsandmarkets.com/requestsample.asp?id=1313
MarketsandMarkets segments the contactless payment market on the basis of solutions, services, payment mode, verticals, and region. The scope of the report covers detailed information regarding the major factors influencing the growth of the contactless payment market such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been done to provide insights into their business overview, products and services, key strategies, new product launches, mergers & acquisitions, partnerships, agreements, collaborations, and recent developments associated with the security analytics market.
MarketsandMarkets is the world's No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
Visit MarketsandMarkets Blog @ http://www.marketsandmarketsblog.com/market-reports/telecom-it
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets
Visit MarketsandMarkets Website @ http://www.marketsandmarkets.com